L00b Posted November 29, 2011 Share Posted November 29, 2011 I guess it's not a good time to be a speculative punter Care to expand? It's getting late and my brain is frazzled (am working on insoluble problem atm ). Link to comment Share on other sites More sharing options...
Vague_Boy Posted November 30, 2011 Share Posted November 30, 2011 But it's a global problem don't you know ... not his fault at all. Pretty much what Gordon Brown said as well. Gordon Brown: The global problems we face require global solutions Brown blames US and Europe for 'throwing away' recovery Gordon likes to blame the Americans a lot (except when "Brokeback" Obama is in the room). Gordon Brown blames it on the US of A Brown: USA to blame for crisis Gordon Brown preaches to America on the Daily Show: 'You guys have got to get your act together' Do you really think that there's any difference in approach here? One chancellor plays the blame game while taking unearned credit while Gordon Brown... does exactly the same thing. You know what Mecky? Both Gordon Brown and George Osborne are laughing at you. Laughing fit to burst. Because while they pal around together in Westminster, with their pensions and allowances and consultancies, you're focused on a left/right dichotomy that doesn't exist any more. Forget the 1%, Osborne and Brown serve the 0.01%, but you'll never see that. As Orwell said in 1984: "They were like the ant, which can see small objects but not large ones." Link to comment Share on other sites More sharing options...
Mecky Posted November 30, 2011 Share Posted November 30, 2011 Pretty much what Gordon Brown said as well. Gordon Brown: The global problems we face require global solutions Brown blames US and Europe for 'throwing away' recovery Gordon likes to blame the Americans a lot (except when "Brokeback" Obama is in the room). Gordon Brown blames it on the US of A Brown: USA to blame for crisis Gordon Brown preaches to America on the Daily Show: 'You guys have got to get your act together' Do you really think that there's any difference in approach here? One chancellor plays the blame game while taking unearned credit while Gordon Brown... does exactly the same thing. You know what Mecky? Both Gordon Brown and George Osborne are laughing at you. Laughing fit to burst. Because while they pal around together in Westminster, with their pensions and allowances and consultancies, you're focused on a left/right dichotomy that doesn't exist any more. Forget the 1%, Osborne and Brown serve the 0.01%, but you'll never see that. As Orwell said in 1984: "They were like the ant, which can see small objects but not large ones." and it will all be GB's fault again at the next election right? Link to comment Share on other sites More sharing options...
ElasticMan Posted November 30, 2011 Author Share Posted November 30, 2011 Ten Questions for Osbourne over his nightmare from Channel 4 http://blogs.channel4.com/faisal-islam-on-economics/ten-questions-for-george-osborne-arising-from-the-fiscal-horror-show-in-his-own-document/15752 The highlights are 1. You are announcing unspecified massive spending cuts for the next parliament to meet your target. Isn’t this exactly what you criticised Labour for? 2. If extra capital spending now is a good idea, why wasn’t it a good idea a year ago? 4. The Coalition Plan in June 2010 presumed 3.6% growth in the six quarters since you were elected. You’ve had just 1%. Would you have pursued this policy, knowing that growth would be so poor? and 7. DMO head Robert Stheeman points towards Bank of England Quantitative Easing rather than the Govenment fiscal plan as the driver behind low gilt yields. Is that not the reality? Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 30, 2011 Share Posted November 30, 2011 Ten Questions for Osbourne over his nightmare from Channel 4 http://blogs.channel4.com/faisal-islam-on-economics/ten-questions-for-george-osborne-arising-from-the-fiscal-horror-show-in-his-own-document/15752 The highlights are 1. You are announcing unspecified massive spending cuts for the next parliament to meet your target. Isn’t this exactly what you criticised Labour for? 2. If extra capital spending now is a good idea, why wasn’t it a good idea a year ago? 4. The Coalition Plan in June 2010 presumed 3.6% growth in the six quarters since you were elected. You’ve had just 1%. Would you have pursued this policy, knowing that growth would be so poor? and 7. DMO head Robert Stheeman points towards Bank of England Quantitative Easing rather than the Govenment fiscal plan as the driver behind low gilt yields. Is that not the reality? Faisal has missed out the one about the near-zero interest rate policy. Technically I guess interest rates are the responsibility of the BoE but on Newsnight last night Danny Alexander was proclaiming the 0.5% BoE rate as some kind of economic miracle delivered by the coalition. Madness. Utter madness. It's no miracle - it's a terrifying indicator of an economy in extremely serious trouble. It's the point where the BoE has lost its wriggle room. We've been at that point now for ages and there is no more effective rate cutting that can be done to stimuate growth. It leaves us economically defenseless if there is a speculative run on the pound. It destroys savings. It discourages saving. It chokes off investment. It artificially inflates house prices keeping people off the housing ladder. Link to comment Share on other sites More sharing options...
WeX Posted November 30, 2011 Share Posted November 30, 2011 You understand wrong. In 2007 before the crisis Ireland had a deficit of only 1% of GDP. In 2006 it ran a surplus. It went pear-shaped in 2008 and after when they decided to underwrite all the toxic debts of the banks - ooops I was talking post recession, ie the route taken by Ireland and others was in contrast to our own and they have suffered. We are not without our own problems but we are certainly not circling the drain like many others. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 30, 2011 Share Posted November 30, 2011 I was talking post recession, ie the route taken by Ireland and others was in contrast to our own and they have suffered. We are not without our own problems but we are certainly not circling the drain like many others. No they went on an austerity drive almost immediately. They were already making cuts in 2008. The IMF didn't come in until 2010. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 30, 2011 Share Posted November 30, 2011 Imminent contagion for UK. Remember it took Italy a matter of weeks to go from bond yields of 3% to 7%+ Pride, falls and all that Have we already fallen into the trap? What will be Osborne's excuse? Link to comment Share on other sites More sharing options...
Bassman62 Posted November 30, 2011 Share Posted November 30, 2011 Originally Posted by Bassman62 So you'll give other peoples money away in overseas aid whilst they suffer cold this winter again You really hate foreigners don't you? Get it into your thick skull that there is enough money to do both.....give overseas aid AND help the elderly in winter. If the government choose not to then vent your spleen at them, don't use it as a flimsy excuse to slag off foreigners. This has nothing to do with foreigners, It's to do with charity begins at home! Our diabetics are now to fund 'Overseas Aid' by being refused a drug on cost grounds by 'NICE' the National Institute for Health & Clinical Excellence Link to comment Share on other sites More sharing options...
ronthenekred Posted November 30, 2011 Share Posted November 30, 2011 Our diabetics are now to fund 'Overseas Aid' by being refused a drug on cost grounds by 'NICE' the National Institute for Health & Clinical Excellence You mean like in the same way our children are at fault for funding Pakistan's nuclear deterrent or electric bills paying for foreign aid? Can you provide a link Where "NICE" have stated that overseas aid is the cause of refusing diabetics treatment? Link to comment Share on other sites More sharing options...
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